The true nature of "money" discovered by humanity: From the birth of currency to crypto assets

2024/12/04 18:53 (Updated 2025/08/01 18:07)
Editors of Iolite
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人類が見出した「お金」の正体 貨幣の誕生から暗号資産まで——

The potential of non-transferable stone coins

Have you ever seen a giant stone currency carried by a primitive man in a manga or something? That currency actually exists. It is located on Yap Island in the Federated States of Micronesia. Even in the 19th century, this island had almost no exchange with the surrounding islands, and the islanders lived in an extremely primitive society.

For this reason, from the end of the 19th century to the beginning of the 20th century, many scholars visited the island to investigate it as a valuable sample to observe primitive human society. What they saw was a giant stone currency called "fey" that seemed impossible to carry.

It ranges in diameter from about 30 cm to nearly 3 m, and the largest ones weigh over 1 ton. The characteristics of fey are that they were specially cut and transported from a distant island, and because they are too heavy, they are not carried like normal currency. Even if this currency was used for buying and selling, it was never handed over to the other party, but was left in front of the house or on the roadside.

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Iolite Vol.16

Iolite Vol.16

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MAGAZINE

Iolite Vol.16

November 2025 issueReleased on 2025/09/30
Interview with Iolite FACE vol.16, concon Inc. CEO Fumiyoshi Takahashi PHOTO & INTERVIEW: Takanori Kataishi Feature: "2026: Abnormal Adoption Frontlines!!" "Prepare for Bitcoin's Golden Month" "Three US Bills: Promoting Innovation or Preventing Surveillance? A Major Restructuring of US Crypto Policy: What Does the Three Major Bills Paint for the Future?" Crypto Journey: "The Crypto Industry's 'Shadow Guardian' Sees Global Security Transformation" Interview with Hacken CEO Dima Budrin Series: "An Expert's Perspective on the Fluctuating Cryptocurrency Market" Virtual Nishi Series: Tech and Future: Toshinao Sasaki, etc.